Instead of destroying them, five used luxury cars seized early this year will be auctioned off this December 13. Traditionally, BOC would publicly destroy seized luxury cars to deter smuggling, however, netizens have questioned its effectivity.
INSTEAD of facing the crusher, five luxury cars will be disposed of in an auction with an estimated total floor price of P29 million.
In a joint announcement, the Bureau of Customs (BOC) and Bureau of Treasury (BTr) said the seized cars will be auctioned off to raise additional revenues for the pandemic response.
The two agencies, along with the Land Bank of the Philippines, formed an Inter-Agency Auction Committee “to ensure transparency”.
In BOC’s public auction notice, the 2001 Porsche Boxster starts at P1.79 million, the 2001 Mercedes Benz SLK350 bids at P1.24 million.
The 2001 Mercedes Benz SLK55 starts at P1.32 million, the 2011 Mercedes Benz E220 will start at P1.49 million.
Finally, the Ferrari Scuderia 430 will be auctioned off at a P23.22 million floor price.
All smuggled cars were seized back in May and June of this year and were issued final and executory orders of forfeiture by the BOC.
The inaugural auction will be held at the BTr on December 13 and will also be live-streamed through the official social media pages of the Inter-Agency Auction Committee.
Tags: #bureauofcustoms, #smuggling, #publicauction, #bureauoftreasury, #luxurycars